A guillotine league is a redraft league with some twists:
Rather than using weekly head-to-head matchups to determine wins and losses for the whole season, a guillotine league uses total points. At the end of each week, the team with the fewest points is eliminated, and their season is over. The eliminated team's players then go into the free agent pool for the remaining teams to bid on. This continues until only one team is left standing and crowned champion.